RB 37/2016: Announcement by Benefit Systems S.A.

Current Report No. 37/2016

Date: 2016-09-23

Subject: Announcement by Benefit Systems S.A. of a share purchase offer

Legal basis: Article 17, paragraph 1 of MAR - confidential information.

The Management Board of Benefit Systems S.A. with its registered office in Warsaw ("the Company") announces an offer for the purchase of shares in the Company ("the Company"), in accordance with which:

      no more than 45,000 (forty-five thousand) shares in the Company are available for purchase;

      the offer price per share in the Company is 668.00 PLN (six hundred and sixty-eight 00/100 zloty);

      the Company allocates a maximum of 40,000,000.00 PLN (forty million 00/100 zloty) on the purchase of the shares in the Offer;

      the acceptance of offers for the sale of the shares from the Company's shareholders will begin on 27th September, 2016, and will end on 28th September, 2016;

      the settlement of all transactions take place on 30th September, 2016. The intermediary in carrying out and settling the Offer is Millennium Dom Maklerski S.A.

The Offer is carried out in accordance with the share buy-back programme set out in Resolution No. 24/15.06.2016 of the Ordinary General Meeting of Shareholders in the Company dated 15th June, 2016, amending Resolution No. 21/12.06.2015 of the Ordinary General Meeting of Shareholders for the Company BENEFIT SYSTEMS S.A. with its registered office in Warsaw of 12th June, 2015, authorising the Management Board to purchase the Company's shares and the adoption of the conditions for the share buy-back programme and the resolution of the Management Board dated 23rd September, 2016, on the principles for the purchase of the Company's own shares for and on its own behalf.

The full text of the Offer is included in an Annex to the current report.

Legal disclaimer: This offer does not constitute a call for subscription to the sale or exchange of the shares referred to in article 72 and subsequent articles of the act of 29th July, 2005, on public offerings and the conditions governing the introduction of financial instruments to organised trading, and public companies (consolidated text: Journal of Law from 2013, item 1382 with subsequent amendments). Specifically, articles 77 and 79 of this act, and the provisions of the Regulation of the Minister of Finance dated 19th October, 2005, on the templates for calls to subscribe to the sale or exchange of shares of a public company, the detailed rules for their announcement and the conditions for the purchase of the shares as a result of these calls (Journal of Law No. 207, item 1729, as amended) shall not apply to this Offer. The Offer does not constitute an offer within the meaning of article 66 of the act of 23rd April, 1964, the Civil Code (consolidated text: Journal of Law from 2014, item 121, with subsequent amendments). This Offer does not constitute a purchase offer nor a solicitation to sell any securities in any state in which the submission of such an offer or solicitation to sell securities would be unlawful or would require any permit, notification or registration. The Offer document does not constitute investment, legal or tax advice. Investors should seek advice from investment, legal and tax advisors in matters related to this Offer. The person responding to the Offer shall bear all legal, financial and tax consequences of the investment decisions taken.


2016-09-23              Grzegorz Mędza, Member of the Management Board

2016-09-23              Izabela Walczewska-Schneyder, Member of the Management Board